I've had bikes with both 650 and 700 wheels and there was no noticeable diference in my speed. When you are talking about "spinning," it sounds like this might be more of a gearing issue than what size wheels you have. I am a natural "spinner," in that my cadence is always high, I never stand or mash the pedals, and I tend to use the easiest gear I can, to give me the speed I want. But, you might feel that you need a gear that is in between the ones you have on the rear cog. When this happens, you can feel like one gear is too hard, but the next lowest one has you spinning like crazy. I felt like this when I switched from a triple to a compact double; there's bigger jumps in the gear ratios on a compact. I learned to get used to this by using the harder of the cogs and getting used to that. Four years later, it's not an issue and both my bikes have this kind of gearing. It sounds like your Terry has similar gearing, so you might try experimenting with using slightly different gear combos.
2015 Trek Silque SSL
Specialized Oura
2011 Guru Praemio
Specialized Oura
2017 Specialized Ariel Sport